A new report on the state’s budget picture was released at the beginning of December. It’s a project released by the Minnesota office of Management and Budget twice each year, and it will guide the budget and spending decisions we have to make next session.
The latest installment showed a staggering, mind-blowing, almost unbelievably large surplus of $17.6 billion dollars.
A surplus that size is unprecedented here.
What does it mean in practical terms? It means the state took far, far, FAR more money than it needed. Most reasonable people agree that we have shared priorities: a strong education system, excellent roads and bridges, and public safety. We need to fund these, but we shouldn’t be overtaxing Minnesotans either.
We also got a new batch of inflation numbers recently. The news is a mixed-bag. Overall inflation is inching down, slightly. In November, inflation was at 5.3% here in Minnesota and 7.1% nationwide. The consumer price index is coming down a little bit too. Those are both good news.
The bad news is daily life is still extremely expensive. The cost of food is still rising at a crazy pace. Grocery prices were almost 14% higher last month. Prices for flour, eggs, butter, and margarine specifically rose at a 20% rate. Gas is sitting around $3 per gallon in Faribault, Waseca, and Kenyon, and just a touch lower in Owatonna. It’s great that fuel prices are falling, but they’ll need to continue to fall.
In other words, Minnesota taxpayers are still feeling serious pressure on their family budgets. As legislators, we have a responsibility to take Minnesota’s massive budget surplus and give it back to the hardworking taxpayers who earned it in the first place. Permanent, ongoing tax relief must be our number one priority as people struggle with soaring inflation, high gas prices, high energy bills, and more expensive groceries. It is the smart thing to do, and it’s the right thing to do.
Wishing you a Merry Christmas and a Happy New Year
As we approach the end of another year, I want to take a moment to wish each and every one of you a very Merry Christmas and a Happy New Year. However you choose to celebrate, I hope that this holiday season brings you joy, peace, and happiness.
Christmas is a time for reflection, gratitude, and giving. If you have the opportunity and the means, please consider supporting our neighbors who are less fortunate. There are a number of charitable organizations that would appreciate a financial contribution. If you are unable, perhaps you can donate a warm coat or some old boots, or maybe volunteer at a food shelf. There are so many ways to give back that will make a real difference in someone’s life.
Contact me
If you have any questions about any issues we are working on at the legislature, feel free to contact me any time at sen.john.jasinski@senate.mn or 651-296-0284. It is a privilege to serve you!